"Upstream" of that bypass capacitor though, it's perfectly fine In some cases, it's even often done (or recommended).
Well, not unqualified. It must be done correctly, otherwise there will be an impedance peak in the supply, at some unlucky frequency. MCU runs through a few loops of just the right length, and whammo, the supply starts bucking like the Tacoma Narrows bridge.
When the supply impedance meets requirements, it's fine.
On a related but different subject,
You might consider replacing inductors with jumpers, as a cost saving measure when you learn those inductors are no longer necessary. This actually tends to
not work, because the only large jumpers I'm aware of, are nothing more than pressed metal (tin plated brass) hunks, yet they are boutique priced ($0.50+). The inductor you started with, is probably cheaper! (Smaller inductors, in normal chip sizes -- at currents typical of chip components, under 8A or so -- are readily replaceable, though are cheaper as well so still may not save much.)
Tim